World Equity Group Inc. Trims Stock Position in Chevron Corporation $CVX

World Equity Group Inc. trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 58.0% in the second quarter, Holdings Channel reports. The fund owned 8,628 shares of the oil and gas company’s stock after selling 11,908 shares during the period. World Equity Group Inc.’s holdings in Chevron were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron during the first quarter worth approximately $25,000. Main Street Group LTD purchased a new position in Chevron in the 1st quarter valued at $28,000. Phillip James Consulting Co. purchased a new position in Chevron in the 4th quarter valued at $26,000. Core Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at $26,000. Finally, Karpus Management Inc. acquired a new position in Chevron in the 4th quarter valued at $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a sharp earnings rebound, with quarterly net income reaching $12.1 billion versus $2.5 billion a year earlier. The company also exceeded earnings and revenue expectations, benefiting from higher energy prices and Middle Eastern supply disruptions. Chevron Turned $3.1 Billion Loss Into A Gain
• Positive Sentiment: Analysts remain constructive, with TD Cowen forecasting meaningful appreciation potential. Coverage also highlights record production, debt reduction and Chevron’s long-term power agreement with Microsoft as support for the investment case. TD Cowen Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Chevron’s dividend, scale, financial strength and resilient operations continue to attract income-focused investors despite volatile oil prices. The company is also expanding its North American base-oils distribution network, potentially supporting downstream growth and product diversification. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
• Neutral Sentiment: Conflict-related uncertainty in the Gulf is keeping energy options premiums elevated and creating trading opportunities around major oil companies. The same volatility could support Chevron’s cash flow, but it also increases commodity and geopolitical risk. Gulf Uncertainty Is Creating a Win-Win Strategy
• Negative Sentiment: Director John B. Hess sold 810,665 shares in disclosed transactions, reducing his holdings substantially. CEO Michael Wirth separately sold 5,547 shares, or 17.41% of his direct position. Large insider sales may pressure sentiment, although they do not necessarily indicate deteriorating business fundamentals. Chevron Director Insider Sale Filing

Chevron Price Performance

Chevron stock opened at $186.42 on Monday. The company has a market cap of $368.33 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 0.57 and a beta of 0.49. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The business has a fifty day moving average of $182.37 and a two-hundred day moving average of $185.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 EPS. As a group, analysts predict that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Piper Sandler assumed coverage on shares of Chevron in a research note on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price target on the stock. Scotiabank increased their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. TD Cowen raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Finally, Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.48.

Insider Activity

In other news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,196,212 shares of company stock worth $231,819,366 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.